Recently, Chinese entrepreneur Jack Ma kicked up a storm online after he suggested that working 12 hours a day was necessary and that it shows the dedication of an employee toward the company. While some supported his statements by arguing that companies might suffer losses due to the cut-throat competition if employees work for fewer ...
In China, Starbucks has been the leading coffee chain for several years. But a 2-year-old local company, Luckin Coffee, is now challenging Starbucks and is growing at an unprecedented rate. Conquering the Chinese market Established in October 2017, Luckin Coffee currently operates about 2,370 stores across the country and is the number two coffee chain ...
Global e-commerce giant Amazon has announced that it will be shutting down its domestic marketplace in China. Amazon apparently could not compete with local e-commerce rivals and decided that pulling the plug would be an economically wise decision. Shutting down Amazon’s operations “We are notifying sellers we will no longer operate a marketplace on Amazon.cn ...
Lei Jun, the founder of Chinese smartphone manufacturer Xiaomi, will be receiving a huge US$1 billion bonus for his contributions to the company. The billionaire entrepreneur has pledged to donate it all to charity. Charity or good PR? “As set out in the annual report of the Company, one individual obtained emoluments falling within the ...
The Apple Credit Card may be the next big thing the trillion-dollar company offers. But consumers are starting to notice the downsides of this supposedly revolutionary move. Introducing Apple Card Global tech giant Apple’s newest venture, the Apple Card, is a digital-first credit card. It was unveiled during Apple’s Show Time event on March 25, ...
Imagine making thousands of dollars just for coming up with names for babies. That is exactly what 19-year-old Beau Jessup from Britain does. Owner of “Special Name,” a website that provides Chinese parents with English names for their kids, Beau Jessup has named 677,900 babies and has earned more than US$400,000 so far from her ...
Purchasing construction equipment, whether it’s new or new-to-you, is a significant investment and one that might be out of reach for small companies. You have two options to add a new piece of machinery to your fleet — buying it new or purchasing refurbished, previously owned equipment. Which is the best option? Let’s take a ...
The richest businessman in India, Mukesh Ambani, saved his brother from a jail term after paying off the latter’s outstanding debt of around US$67 million to Swedish telecom equipment maker Ericsson. Mukesh’s brother, Anil Ambani, is the Chairman of Reliance Communications (RCom). Rescuing his brother Back in 2014, Ericsson entered into a deal with RCom ...
China has always attempted to isolate Taiwan internationally and eliminate its identity. In another such brazen attempt, Beijing forced a New Zealand plane to turn back to Auckland while en route to Shanghai since its paperwork included a reference to Taiwan. China apparently saw it as an acknowledgment of Taiwan being a separate country. Turning ...
The Chinese government places some strict regulations on foreign firms operating in the country. Last year, the administration passed a new set of laws that further breached the rights of foreign companies by allowing law enforcement agencies to snoop on their networks and even censor them, if required. Inspecting networks In November 2018, the Chinese ...
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